This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Brunswick Sells Triton Boats To Fishing Holdings, LLC; Exploring Strategic Alternatives For Trophy

LAKE FOREST, Ill., July 29 /PRNewswire-FirstCall/ -- Brunswick Corporation (NYSE: BC) today announced that it has sold Triton Boats to Fishing Holdings, LLC, an affiliate of Platinum Equity. Terms of the transaction were not disclosed.

"This decision was part of our ongoing strategic review to further refine our product portfolio and best focus our resources on those brands and marine segments that we believe are core to our success going forward," said Brunswick Chairman and Chief Executive Officer Dustan E. McCoy. "As such, Brunswick will maintain its leadership position in the recreational and fishing boat markets, with a strong presence in the freshwater and sportfishing segments as well as leading brands in the runabout/cruiser and yachts segments."

In connection with this transaction, production of Triton fiberglass boats will be relocated from Ashland City, Tenn., to Flippin, Ark. Lund fiberglass manufacturing will be moved to the Brunswick Boat Group's (BBG) Tellico fiberglass boat manufacturing facility in Vonore, Tenn., while Trophy fiberglass fishing boats will continue to be built in Ashland City through the remainder of the year as Brunswick evaluates strategic alternatives for the brand.

Brunswick will retain rights to certain intellectual property and other rights to Triton aluminum boats, and will continue to sell those models under license as part of Brunswick's aluminum portfolio. These boats will continue to be built at BBG's Lebanon, Mo., aluminum manufacturing facility. BBG's Cypress Cay pontoon boats, which are manufactured in Ft. Wayne, Ind., and carried by many Triton dealers, are not affected by this transaction.

Brunswick's Mercury Marine unit will continue supplying propulsion systems to Triton and Fishing Holdings' other brands.

As a result of these actions, Brunswick said it estimates that the associated restructuring charges could total between $18 million to $20 million, pretax, of which $15 million was recorded in Brunswick's second quarter financial results.

"These decisions, while strategic in nature, are never easy or without difficult consequences," McCoy concluded, "but they are nevertheless required by business realities, and are no reflection upon the dedication and expertise of the men and women at the Ashland City facility."

About Brunswick

Headquartered in Lake Forest, Ill., Brunswick Corporation endeavors to instill "Genuine Ingenuity"(TM) in all its leading consumer brands, including Mercury and Mariner outboard engines; Mercury MerCruiser sterndrives and inboard engines; MotorGuide trolling motors; Attwood marine parts and accessories; Land 'N' Sea, Kellogg Marine, Diversified Marine and Benrock parts and accessories distributors; Arvor, Bayliner, Bermuda, Boston Whaler, Cabo Yachts, Crestliner, Cypress Cay, Harris FloteBote, Hatteras, Lowe, Lund, Meridian, Ornvik, Princecraft, Quicksilver, Rayglass, Sea Ray, Sealine, Suncruiser, Triton Aluminum, Trophy, Uttern and Valiant boats; Life Fitness and Hammer Strength fitness equipment; Brunswick bowling centers, equipment and consumer products; Brunswick billiards tables and foosball tables. For more information, visit http://www.brunswick.com.

SOURCE Brunswick Corporation

Copyright 2009 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
BC $49.71 -0.18%
AAPL $112.76 -0.47%
FB $89.43 -1.74%
GOOG $618.25 -1.92%
TSLA $249.06 0.23%

Markets

Chart of I:DJI
DOW 16,528.03 -114.98 -0.69%
S&P 500 1,972.18 -16.69 -0.84%
NASDAQ 4,776.5080 -51.8170 -1.07%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs